Home World SCORPIO BULKERS INC. announces the sale of two ULTRAMAX vessels and one...

SCORPIO BULKERS INC. announces the sale of two ULTRAMAX vessels and one KAMSARMAX vessels for $53.5 Million and provides an update on dry bulk rates for the first quarter of 2020

Scorpio Bulkers Inc. (NYSE:SALT) (“Scorpio Bulkers,” or the “Company”) announced today that the Company has entered into agreements with unaffiliated third parties to sell the SBI Jaguar and SBI Taurus, 2014 and 2015 built Ultramax vessels, respectively, and the SBI Bolero, a 2015 built Kamsarmax vessel, for approximately $53.5 million in aggregate. None of the three vessels have been fitted with scrubbers. Delivery of the vessels is expected to take place between March and May of 2020. It is estimated that the Company’s liquidity will increase by approximately $18.3 million after the repayment of outstanding debt.

Update on the First Quarter of 2020 Dry Bulk Rates (as of March 10, 2020):

  • Kamsarmax fleet: approximately $10,000 per day on average for 80% of days
  • Ultramax fleet: approximately $9,000 per day on average for 90% of days